Evolution Petroleum Corp (NYSEAMERICAN:EPM) has been given an average recommendation of “Buy” by the seven ratings firms that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $9.50.
EPM has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Evolution Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Northland Securities set a $7.00 price objective on shares of Evolution Petroleum and gave the company a “hold” rating in a research note on Monday, December 11th. UBS Group raised shares of Evolution Petroleum from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, Eurobank EFG raised shares of Evolution Petroleum from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Thursday, February 8th.
In related news, CFO David Joe sold 16,666 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $8.16, for a total transaction of $135,994.56. Following the transaction, the chief financial officer now directly owns 345,924 shares of the company’s stock, valued at $2,822,739.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Advisors L.L.C. Jvl sold 25,383 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $8.00, for a total transaction of $203,064.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,536 shares of company stock worth $703,037.
A number of hedge funds and other institutional investors have recently modified their holdings of EPM. Alliancebernstein L.P. bought a new position in Evolution Petroleum during the second quarter worth $133,000. Teachers Advisors LLC boosted its stake in Evolution Petroleum by 15.8% during the second quarter. Teachers Advisors LLC now owns 52,297 shares of the energy company’s stock worth $424,000 after acquiring an additional 7,150 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Evolution Petroleum by 59.1% during the second quarter. TIAA CREF Investment Management LLC now owns 100,774 shares of the energy company’s stock worth $816,000 after buying an additional 37,447 shares during the last quarter. Northern Trust Corp raised its holdings in Evolution Petroleum by 18.3% during the second quarter. Northern Trust Corp now owns 380,506 shares of the energy company’s stock worth $3,083,000 after buying an additional 58,964 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Evolution Petroleum by 3.8% during the second quarter. Vanguard Group Inc. now owns 1,232,494 shares of the energy company’s stock worth $9,983,000 after buying an additional 44,569 shares during the last quarter.
Evolution Petroleum (EPM) traded up $0.10 on Monday, reaching $8.15. 68,911 shares of the company’s stock were exchanged, compared to its average volume of 86,064. Evolution Petroleum has a 52-week low of $6.35 and a 52-week high of $8.70. The company has a market cap of $271.14, a price-to-earnings ratio of 27.17 and a beta of 0.69.
Evolution Petroleum (NYSEAMERICAN:EPM) last posted its earnings results on Wednesday, February 7th. The energy company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. Evolution Petroleum had a net margin of 35.03% and a return on equity of 21.51%. The firm had revenue of $11.07 million for the quarter, compared to analyst estimates of $10.66 million.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a $0.10 dividend. This is a positive change from Evolution Petroleum’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Wednesday, March 14th. Evolution Petroleum’s dividend payout ratio is currently 100.00%.
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Evolution Petroleum Company Profile
Evolution Petroleum Corporation is an independent oil and gas company. The Company is engaged in the acquisition, exploitation and development of properties for the production of crude oil and natural gas, onshore in the United States. Its assets include interests in a carbon dioxide (CO2) enhanced oil recovery project (EOR) in Louisiana’s Delhi field.
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